B The Trader Millionaire Trader Reveals His 35 Year Journey
Nov 25, 2024
Markus Heitkutter, a seasoned trader with over 35 years of experience, shares his remarkable journey from a high school student in Germany to a successful trader. He emphasizes the importance of consistency and learning from losses rather than seeking a 'holy grail' strategy. He discusses the mental resilience needed in trading, the shift from day to swing trading, and the significance of building passive income through dividends. Markus also highlights the value of continuous learning and creating a legacy for future generations.
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First Trade
- Marcus Heitkutter bought his first stock, Volkswagen, for 50 Deutschmark at age 18 after reading a book by Andre Costolani.
- He obsessively called his banker for updates, ultimately earning a small profit, which the banker paid him to stop calling.
Indicator Overdose
- After his initial trade, Marcus explored options and programmed a calculator to analyze straddles and breakouts.
- He also became an "indicator junkie," overcrowding his charts and curve-fitting strategies without fully understanding their limitations.
Indicators as Crutches
- Indicators are like crutches, revealing existing price action more clearly by reducing noise.
- Traders should understand indicator types (trend-following and oscillators) before using them effectively.
